Secretary for Culture, Sports & Tourism Kevin Yeung today officiated at a press conference on the Hong Kong Cultural & Art Industry Revitalisation Program of Alibaba Digital Media & Entertainment Group (ADME Group).

The press conference was held during this year’s Hong Kong International Film & TV Market event.

Mr Yeung said: "We eagerly hope ADME Group will work more closely with the film and TV industry of Hong Kong to develop new modes of co-operation and explore business areas, to nurture new talent, and to create rich and diversified content for film and TV, which will bring the development of our film and TV entertainment industry to the next level."

ADME Group announced that they would invest $5 billion in a development fund in the next five years and make Hong Kong their second base.

Apart from focusing on film production and distribution, rights acquisitions, TV series production, investments in concerts, collaboration with performance venues, and talent development, the programme will work with leading local film and TV companies to co-produce films for cinemas, TV dramas, and dramas for streaming platforms.

The programme is facilitated by Invest Hong Kong in terms of setting up offices and starting businesses in Hong Kong, as well as arranging to participate in networking events to meet the local trade and representatives of relevant associations.

Mr Yeung stressed that the Culture, Sports & Tourism Bureau is dedicated to organising events and actively participating in large-scale film festivals on the Mainland and overseas through Create Hong Kong.

This, he added, is to promote Hong Kong's film and TV industry, attract Mainland and overseas corporations to expand their businesses in the city and strengthen co-operation with the local film and TV industry in the production of quality content.